NEW CANAAN, Conn.--(BUSINESS WIRE)--
Bankwell Financial Group, Inc. (NASDAQ:BWFG), the holding company for
Bankwell Bank, announced today the closing of its initial public
offering of 2,702,703 shares of common stock at a public offering price
of $18.00 per share, resulting in aggregate gross proceeds of
approximately $48.6 million. The net proceeds of the offering, after
deducting estimated underwriting discounts and offering expenses, were
approximately $44.9 million. The shares began trading on The NASDAQ
Global Market under the ticker symbol "BWFG" on May 15, 2014.
“We are very pleased by the response we have received to this offering,”
said Peyton R. Patterson, President and CEO of Bankwell Financial Group.
“With the additional capital the IPO provides, it is key to
accomplishing our strategic priorities for organic growth and future
acquisition opportunities. We are committed to being performance-driven
for our clients, communities, employees and shareholders.”
Sandler O’Neill & Partners, L.P. and Keefe, Bruyette & Woods, Inc., a
Stifel Company, acted as joint book-running managers for the offering.
A registration statement relating to these securities has been filed
with, and declared effective by, the Securities and Exchange Commission.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy the securities in this offering, nor
shall there be any sale of these securities in any state or other
jurisdiction in which such offer, solicitation or sale would be unlawful
prior to the registration or qualification under the securities laws of
any such state or other jurisdiction. A final prospectus related to the
offering was filed with the SEC and is available on the SEC's website
located at www.sec.gov.
Copies of the final prospectus may be obtained by contacting Sandler
O'Neill & Partners, L.P., Attention: Prospectus Department, 1251 Avenue
of the Americas, 6th Floor, New York, NY 10020, telephone: (866)
805-4128 or via email at syndicate@sandleroneill.com,
or by contacting Keefe, Bruyette & Woods, Inc., Attention: Equity
Capital Markets, 787 Seventh Avenue, 4th Floor, New York, NY 10019,
telephone (800) 966-1559.
About Bankwell Financial Group
Bankwell is a commercial bank that serves the banking and lending needs
of residents and businesses throughout Fairfield County, Connecticut.
For more information about this press release, interested parties may
contact Peyton R. Patterson, President and CEO or Ernest J. Verrico, CFO
of Bankwell Financial Group at (203) 972-3838.
This press release may contain certain forward-looking statements
about the Company. Forward-looking statements include statements
regarding anticipated future events and can be identified by the fact
that they do not relate strictly to historical or current facts. They
often include words such as “believe,” “expect,” “anticipate,”
“estimate,” and “intend” or future or conditional verbs such as “will,”
“would,” “should,” “could,” or “may.” Forward-looking statements, by
their nature, are subject to risks and uncertainties. Certain factors
that could cause actual results to differ materially from expected
results include increased competitive pressures, changes in the interest
rate environment, general economic conditions or conditions within the
securities markets, and legislative and regulatory changes that could
adversely affect the business in which the Company and its subsidiaries
are engaged.
For Bankwell Financial Group
Peyton R. Patterson, 203-972-3838
President
and CEO
or
Ernest J. Verrico, 203-972-3838
CFO
Source: Bankwell Financial Group, Inc.